{"id":5157,"date":"2011-12-21T08:34:46","date_gmt":"2011-12-21T13:34:46","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5157"},"modified":"2011-12-21T08:34:46","modified_gmt":"2011-12-21T13:34:46","slug":"before-the-open-dec-21-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5157","title":{"rendered":"Before the Open (Dec 21)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. Taiwan rallied more than 4%, South Korea and India more than 3% and Australia and Singapore more than 2%. China dropped 1%. Europe currently leans to the downside, but there are no standout winners or losers. Amsterdam is up 1.2%; Belgium is down 1%. Futures here in the States point towards negative open for the cash market.
\n<\/span>
\nThe dollar was weak overnight but is currently up. Oil and copper are down. Gold and silver are down.<\/span>
\nWith yesterday’s bounce, the price action is starting to get compressed. The S&P has formed a lower high and higher low. If the market was permitted to act on its own without having to deal with news from Europe, this development would build energy into the market and increase the odds of an explosive breakout. But unfortunately this isn’t the case. The S&P can move through a significant trendline and get halted in its tracks by a surprise news headline. Here’s the S&P…<\/span>
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\nOn a much shorter term basis, here are some levels I’m watching. On the upside, 1246ish; on the downside 1237. As of now the S&P will opened near my downside level. If prices can hold and move up, you know where my intraday upside target is.<\/span>
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\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n